LHP Hospital to launch $375 million credit facility on Tuesday

By Sara Rosenberg

New York, June 8 - LHP Hospital Group Inc. is set to hold a bank meeting on Tuesday to launch a proposed $375 million credit facility, according to a market source.

Citigroup Global Markets Inc., Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch and Regions Bank are the lead banks on the deal.

The facility consists of a $100 million revolver and a $275 million term loan, the source said.

Proceeds will be used to refinance existing debt and for acquisitions.

LHP Hospital is a Plano, Texas-based provider of hospital capital and expertise to not-for-profit hospitals and hospital systems.

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